Theater Merger Creates No. 1

BRIEFCASE

October 1, 1997

Sony Corporation of America and Cineplex Odeon announced Tuesday they are merging their theater businesses to form the world's largest movie theater company with more than 2,600 screens in North America. The combined company will be named Loews Cineplex Entertainment. Seagram Co.'s Universal Studios, which already owned a Cineplex stake, will own 26.7 percent of the company. Sony will have a 49.9 percent stake.